Commercial Real Estate
Capital Raising for Real Estate Projects in Vietnam
Vietnam real estate raises are won on structure and documentation. Investors and lenders care about land position, approvals, cash flow visibility, and a clean closing path.
Financely runs an underwriting-led process that produces lender-ready materials, targeted outreach, written terms, and a managed diligence workflow through closing.
Where Vietnam Deals Get Stuck
Many sponsors approach capital as if it is a relationship problem. In practice, it is a file quality problem. Capital providers will engage when they can price risk, control downside, and verify execution steps. If the approvals are unclear, the budget is soft, or the cash flow plan relies on assumptions that cannot be audited, you get delays or silence.
What lenders focus on
- Land position and the ability to register security
- Permits, licensing status, and a realistic construction timetable
- Construction contract terms and cost overrun controls
- Sales, lease, or offtake evidence, not marketing decks
- Clear sources and uses and a downside case
What equity investors focus on
- Sponsor track record, governance, and reporting discipline
- Exit path and distribution waterfall that fits the risk
- FX, repatriation, and document enforceability practicalities
- Alignment, including real sponsor equity at risk
- Data room quality and responsiveness in diligence
Example Capital Stack for a Vietnam Development
Every project is different. This is a representative stack we see for mid-market developments when the sponsor wants speed, control, and a realistic path to disbursement.
| Layer |
Typical role |
Common terms to expect |
| Senior secured construction loan |
Primary funding for build and hard costs, secured on project assets and cash flows |
LTV and DSCR driven, milestones for drawdowns, strict reporting, covenants, and controls |
| Mezzanine or preferred equity |
Fills the equity gap, improves senior leverage, supports speed when structured correctly |
Higher cost of capital, strong protections, cash sweep mechanics, governance rights |
| Sponsor equity |
Alignment, credibility, and first-loss buffer |
Cash equity and documented contributions, not soft commitments |
| Presales or pre-leasing |
De-risks takeout and supports underwritten revenue assumptions |
Escrow, cancellation rules, and evidence that counterparties can perform |
| Cost overrun and contingency |
Protects the capital stack under downside scenarios |
Ring-fenced contingency, sponsor support undertakings, step-in rights |
Important:
Messaging and introductions do not close financings. Closing happens when the settlement path, security package, and conditions precedent are clear and bankable.
What Financely Delivers When Retained
We act as the deal quarterback. The objective is simple: build an investable file, run a controlled outreach process, and convert interest into written terms you can close.
Underwriting and packaging
- Project underwriting memo and credit narrative
- Sources and uses, capital stack structuring, and waterfall design
- Model review and sensitivity framing for lender and IC standards
- Security and collateral summary, controls, and reporting plan
- Controlled data room build and document checklist
Distribution and execution
- Target list build across banks, private credit, and project equity
- Outreach, NDA process, and Q and A management
- Term sheet negotiation support and lender coordination
- Diligence management, third-party workstreams, closing checklist
- Where regulated execution is required, coordination through licensed firms under their approvals
Closing Procedure and Indicative Timeline
Speed is a function of readiness. A clean file can move fast. A messy file drifts. Below is a realistic execution path when the sponsor has documents and decision-makers available.
| Phase |
What happens |
Typical timing |
| Fit screen and scoping |
Target capital stack, lender profile, use of proceeds, documents list, and feasibility check |
2 to 5 business days |
| Underwriting and lender package |
Memo, model alignment, data room, security summary, and outreach materials |
1 to 2 weeks |
| Market outreach |
Introductions, NDA flow, management calls, and initial credit feedback |
2 to 4 weeks |
| Term sheets and selection |
Compare structures, negotiate key points, select the best execution path |
1 to 2 weeks |
| Diligence and documentation |
Legal, technical, valuation, insurance, and documentation through CP satisfaction |
3 to 8 weeks |
| Closing and funding |
Signing, security perfection, account controls, and drawdown mechanics |
Case specific |
Readiness Checklist for Vietnam Sponsors
- Clear corporate structure and ownership disclosures for KYC
- Land and project documentation in a form lenders can diligence quickly
- Budget, schedule, and contractor terms with credible controls
- Sales, lease, or offtake evidence tied to real counterparties
- Defined use of proceeds and a verifiable settlement plan
Engage Financely for Vietnam Real Estate Capital Raising
If you are raising debt or equity for a Vietnam real estate project, start with a structured intake. We will tell you what is financeable, what needs to be fixed, and what the fastest closing path looks like.
You can review our process on How It Works
and our real estate mandate scope on Capital Raising for Commercial Real Estate.
Frequently Asked Questions
Do you work with Vietnam-based sponsors only?
We work with Vietnam sponsors and offshore sponsors deploying into Vietnam. The key requirement is a verifiable project, clean documentation, and a realistic path to approvals and settlement.
Can you raise capital pre-permit?
It depends on what is missing and the risk appetite of the capital source. Some investors will engage early if the land position and approvals path are credible, but pricing and protections change when permits are not locked.
What size raises do you support?
We focus on commercial transactions where a lender or investor process can be run professionally. The practical minimum depends on complexity, jurisdiction, and the depth of diligence required.
Do you provide direct loans?
No. Financely acts as an arranger and advisor. Where regulated execution is required, delivery is coordinated through appropriately licensed firms and regulated institutions under their own approvals.
What is the fastest way to accelerate closing?
Clean the file before outreach. A structured model, a disciplined data room, and clear answers on security, approvals, and use of proceeds cut weeks from the process.
What should a sponsor avoid when marketing a Vietnam project?
Avoid vague claims, inconsistent numbers, and unverified assumptions. Capital providers price risk. If the story cannot be audited, it will not clear underwriting.